NPORT-EX 2 vg_smallcapindex.htm
Vanguard® Small-Cap Index Fund
Schedule of Investments (unaudited)
As of September 30, 2023
The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund’s Form N-PORT reports are available on the SEC’s website at www.sec.gov.
          Shares Market
Value
($000)
Common Stocks (99.5%)
Basic Materials (3.7%)
  Reliance Steel & Aluminum Co.  1,506,855     395,143
  Steel Dynamics Inc.  2,024,769     217,096
* Cleveland-Cliffs Inc. 13,092,523     204,636
  Royal Gold Inc.  1,690,591     179,761
* RBC Bearings Inc.    747,810     175,085
  United States Steel Corp.  5,163,928     167,724
  Olin Corp.  3,238,013     161,836
  UFP Industries Inc.  1,512,646     154,895
  Commercial Metals Co.  3,005,446     148,499
  Hexcel Corp.  2,173,999     141,614
  Alcoa Corp.  4,594,631     133,520
  Timken Co.  1,645,698     120,942
  Element Solutions Inc. 5,904,463 115,786
  Valvoline Inc. 3,568,544 115,050
  Chemours Co. 3,811,198 106,904
  Huntsman Corp. 4,349,760 106,134
  Boise Cascade Co. 1,018,718 104,969
  Mueller Industries Inc. 1,387,772 104,305
  Balchem Corp. 829,773 102,925
  Cabot Corp. 1,439,685 99,727
  Ashland Inc. 1,186,822 96,940
* Livent Corp. 4,626,060 85,166
  Carpenter Technology Corp. 1,257,273 84,501
  NewMarket Corp. 185,004 84,184
  Avient Corp. 2,344,787 82,818
* MP Materials Corp. 3,658,701 69,881
  Innospec Inc. 640,236 65,432
  Sensient Technologies Corp. 1,087,830 63,616
  Hecla Mining Co. 15,102,870 59,052
  Scotts Miracle-Gro Co. 1,084,731 56,059
  Quaker Chemical Corp. 347,726 55,636
  Materion Corp. 531,546 54,170
  Worthington Industries Inc. 836,461 51,710
  Westlake Corp. 411,193 51,263
  Minerals Technologies Inc. 838,747 45,930
  Stepan Co. 547,469 41,044
  Tronox Holdings plc 3,032,266 40,754
* Ingevity Corp. 840,593 40,021
  Compass Minerals International Inc. 1,057,039 29,544
  Kaiser Aluminum Corp. 390,792 29,411
* Ecovyst Inc. 2,696,403 26,533

          Shares Market
Value
($000)
  Koppers Holdings Inc.    509,322      20,144
  Mativ Holdings Inc.  1,334,874      19,035
  GrafTech International Ltd.  4,947,285      18,948
* Coeur Mining Inc.  8,163,959      18,124
  Schnitzer Steel Industries Inc. Class A    631,354      17,583
* Century Aluminum Co.  1,305,237       9,385
            4,373,435
Consumer Discretionary (15.8%)
* Deckers Outdoor Corp.    672,566     345,759
* Liberty Media Corp.-Liberty Formula One Class C  5,092,709     317,276
* DraftKings Inc. Class A 10,149,791     298,810
  RB Global Inc.  4,687,750     292,984
  Williams-Sonoma Inc.  1,650,896     256,549
* BJ's Wholesale Club Holdings Inc.  3,458,069     246,802
* Floor & Decor Holdings Inc. Class A 2,602,616 235,537
  Aramark 6,718,142 233,120
* Five Below Inc. 1,432,625 230,509
  Wynn Resorts Ltd. 2,492,306 230,314
  Hasbro Inc. 3,392,133 224,356
  Vail Resorts Inc. 992,135 220,145
* American Airlines Group Inc. 16,808,064 215,311
  Service Corp. International 3,687,448 210,701
  Lithia Motors Inc. Class A 709,352 209,493
  Lear Corp. 1,511,829 202,887
  Churchill Downs Inc. 1,734,088 201,224
* Mattel Inc. 9,114,105 200,784
  Toll Brothers Inc. 2,671,934 197,616
  Gentex Corp. 6,006,750 195,460
* SiteOne Landscape Supply Inc. 1,159,743 189,560
  Bath & Body Works Inc. 5,596,883 189,175
  Whirlpool Corp. 1,411,019 188,653
  Tempur Sealy International Inc. 4,208,765 182,408
* Norwegian Cruise Line Holdings Ltd. 10,949,403 180,446
  Pool Corp. 477,393 170,000
  Murphy USA Inc. 496,866 169,794
* Skechers USA Inc. Class A 3,457,925 169,265
  Tapestry Inc. 5,853,015 168,274
* Light & Wonder Inc. 2,351,114 167,705
  Texas Roadhouse Inc. Class A 1,717,571 165,059
  New York Times Co. Class A 3,998,507 164,739
  Dick's Sporting Goods Inc. 1,502,429 163,134
  H&R Block Inc. 3,782,633 162,880
  VF Corp. 9,008,950 159,188
* Capri Holdings Ltd. 2,988,898 157,246
  Wyndham Hotels & Resorts Inc. 2,168,203 150,777
* elf Beauty Inc. 1,331,344 146,222
  Polaris Inc. 1,385,828 144,320
* Duolingo Inc. Class A 864,917 143,464
  Interpublic Group of Cos. Inc. 4,952,514 141,939
  Wingstop Inc. 771,553 138,756
* AutoNation Inc. 906,812 137,291
* Wayfair Inc. Class A 2,206,974 133,676
* Crocs Inc. 1,507,173 132,978
  U-Haul Holding Co. (XNYS) 2,500,438 130,998
  Thor Industries Inc. 1,303,482 124,000
  PVH Corp. 1,614,089 123,494
  Nexstar Media Group Inc. Class A 857,788 122,981
  BorgWarner Inc. 3,024,206 122,087

          Shares Market
Value
($000)
* Caesars Entertainment Inc.  2,631,998     121,993
* Asbury Automotive Group Inc.    529,553     121,834
* Alaska Air Group Inc.  3,273,553     121,383
* Bright Horizons Family Solutions Inc.  1,489,489     121,334
  Hyatt Hotels Corp. Class A  1,122,589     119,084
  Boyd Gaming Corp.  1,929,849     117,393
  Meritage Homes Corp.    945,921     115,771
* Taylor Morrison Home Corp. Class A  2,674,536     113,962
* Coty Inc. Class A 10,315,769     113,164
1 TKO Group Holdings Inc.  1,345,957     113,141
*,1 GameStop Corp. Class A  6,667,720     109,751
  Ralph Lauren Corp. Class A    935,389     108,589
  Harley-Davidson Inc.  3,282,341     108,514
* Fox Factory Holding Corp.  1,090,588     108,056
* YETI Holdings Inc. 2,232,441 107,648
* Planet Fitness Inc. Class A 2,176,356 107,033
*,1 Carvana Co. Class A 2,467,933 103,604
* Etsy Inc. 1,583,220 102,244
* Visteon Corp. 725,854 100,219
* RH 378,740 100,124
* Ollie's Bargain Outlet Holdings Inc. 1,290,556 99,605
* Liberty Media Corp.-Liberty SiriusXM Class A 3,911,171 99,539
1 Choice Hotels International Inc. 777,771 95,285
  Wendy's Co. 4,577,186 93,420
  Academy Sports & Outdoors Inc. 1,967,786 93,017
  Group 1 Automotive Inc. 343,520 92,307
  Newell Brands Inc. 10,130,384 91,477
* Grand Canyon Education Inc. 778,971 91,046
* Goodyear Tire & Rubber Co. 7,297,323 90,706
* Avis Budget Group Inc. 498,493 89,574
* Skyline Champion Corp. 1,397,173 89,028
* Penn Entertainment Inc. 3,873,188 88,890
* Lyft Inc. Class A 8,263,097 87,093
1 Penske Automotive Group Inc. 519,500 86,788
  KB Home 1,866,773 86,394
  Advance Auto Parts Inc. 1,530,886 85,622
  Leggett & Platt Inc. 3,257,288 82,768
  Macy's Inc. 7,041,953 81,757
* Hilton Grand Vacations Inc. 1,982,754 80,698
  Marriott Vacations Worldwide Corp. 797,947 80,297
  Signet Jewelers Ltd. 1,110,385 79,737
  Madison Square Garden Sports Corp. 448,544 79,078
  American Eagle Outfitters Inc. 4,574,383 75,981
  TEGNA Inc. 5,186,462 75,567
  Gap Inc. 7,105,977 75,537
  LCI Industries 619,326 72,721
* Helen of Troy Ltd. 620,326 72,305
* Tri Pointe Homes Inc. 2,548,346 69,697
  Rush Enterprises Inc. Class A 1,695,020 69,208
* Abercrombie & Fitch Co. Class A 1,224,503 69,025
  Travel + Leisure Co. 1,808,156 66,414
  Columbia Sportswear Co. 868,627 64,365
  Kontoor Brands Inc. 1,445,220 63,460
  MDC Holdings Inc. 1,535,512 63,309
* Frontdoor Inc. 2,068,591 63,278
  Carter's Inc. 911,350 63,020
  Inter Parfums Inc. 452,802 60,829
  Steven Madden Ltd. 1,842,742 58,544

          Shares Market
Value
($000)
  Papa John's International Inc.    843,086      57,515
  Kohl's Corp.  2,706,156      56,721
* Liberty Media Corp.-Liberty SiriusXM  2,226,290      56,681
* Shake Shack Inc. Class A    965,523      56,068
  Bloomin' Brands Inc.  2,243,479      55,167
*,1 QuantumScape Corp. Class A  8,116,194      54,297
* ACV Auctions Inc. Class A  3,480,277      52,831
  Graham Holdings Co. Class B     90,177      52,573
  Red Rock Resorts Inc. Class A  1,278,512      52,419
* Dorman Products Inc.    689,446      52,232
* Cinemark Holdings Inc.  2,818,930      51,727
  Laureate Education Inc.  3,645,439      51,401
* LGI Homes Inc.    515,583      51,295
* Urban Outfitters Inc.  1,553,640      50,789
* Coursera Inc. 2,699,770 50,459
* Topgolf Callaway Brands Corp. 3,583,954 49,602
  Dana Inc. 3,347,212 49,104
  MillerKnoll Inc. 1,952,245 47,732
  PriceSmart Inc. 639,983 47,634
* Stride Inc. 1,052,377 47,389
  Spirit Airlines Inc. 2,813,048 46,415
* Gentherm Inc. 850,233 46,134
* SkyWest Inc. 1,084,023 45,464
* Sabre Corp. 9,795,804 43,983
* Adtalem Global Education Inc. 1,017,217 43,588
* Six Flags Entertainment Corp. 1,830,010 43,024
  Strategic Education Inc. 567,357 42,694
* Sonos Inc. 3,306,279 42,684
* OPENLANE Inc. 2,821,543 42,097
  Foot Locker Inc. 2,421,230 42,008
* SeaWorld Entertainment Inc. 907,178 41,957
* Peloton Interactive Inc. Class A 8,304,447 41,937
  Acushnet Holdings Corp. 771,974 40,946
* ODP Corp. 882,864 40,744
* Central Garden & Pet Co. Class A 1,004,132 40,256
* TripAdvisor Inc. 2,421,171 40,143
  John Wiley & Sons Inc. Class A 1,067,506 39,679
* JetBlue Airways Corp. 8,593,761 39,531
  HNI Corp. 1,140,471 39,495
* Hertz Global Holdings Inc. 3,209,830 39,320
* PROG Holdings Inc. 1,178,895 39,151
  Cracker Barrel Old Country Store Inc. 571,386 38,397
* Liberty Media Corp.-Liberty Live Class C 1,165,661 37,418
1 Nordstrom Inc. 2,499,480 37,342
  Oxford Industries Inc. 385,166 37,026
* Brinker International Inc. 1,146,352 36,213
  Cheesecake Factory Inc. 1,190,532 36,073
  Jack in the Box Inc. 516,509 35,670
* Knowles Corp. 2,351,441 34,825
*,1 Fisker Inc. Class A 5,415,394 34,767
* Liberty Media Corp.-Liberty Formula One Class A 612,609 34,637
  La-Z-Boy Inc. 1,110,799 34,302
* Madison Square Garden Entertainment Corp. Class A 1,038,981 34,193
* Under Armour Inc. Class A 4,989,090 34,175
  Upbound Group Inc. 1,155,483 34,029
  Hanesbrands Inc. 8,537,876 33,810
*,1 PowerSchool Holdings Inc. Class A 1,469,666 33,303
* Victoria's Secret & Co. 1,981,647 33,054

          Shares Market
Value
($000)
* Dave & Buster's Entertainment Inc.    882,020      32,697
* National Vision Holdings Inc.  2,017,196      32,638
*,1 AMC Entertainment Holdings Inc. Class A  4,067,295      32,498
  Phinia Inc.  1,207,552      32,350
* Under Armour Inc. Class C  5,006,350      31,941
  Levi Strauss & Co. Class A  2,303,440      31,281
* Boot Barn Holdings Inc.    385,137      31,269
  Allegiant Travel Co.    402,781      30,958
*,1 Dutch Bros Inc. Class A  1,322,571      30,750
*,1 Luminar Technologies Inc. Class A  6,403,360      29,135
  Matthews International Corp. Class A    743,473      28,929
* Cavco Industries Inc.    106,433      28,275
* Cars.com Inc.  1,621,853      27,344
1 Krispy Kreme Inc.  2,160,029      26,936
* Sphere Entertainment Co. 714,365 26,546
1 Dillard's Inc. Class A 80,221 26,538
  Buckle Inc. 777,435 25,959
* Lions Gate Entertainment Corp. Class B 3,275,855 25,781
* iRobot Corp. 675,828 25,614
  Steelcase Inc. Class A 2,283,717 25,509
* Sweetgreen Inc. Class A 2,155,705 25,330
* Chegg Inc. 2,813,942 25,100
  Scholastic Corp. 653,912 24,940
* G-III Apparel Group Ltd. 995,469 24,807
* Leslie's Inc. 4,253,700 24,076
* Integral Ad Science Holding Corp. 2,011,700 23,919
  Sturm Ruger & Co. Inc. 455,238 23,727
* Vista Outdoor Inc. 707,677 23,438
* Sally Beauty Holdings Inc. 2,768,165 23,197
* Udemy Inc. 2,317,648 22,018
  Monro Inc. 766,666 21,290
  Camping World Holdings Inc. Class A 1,029,900 21,020
* American Axle & Manufacturing Holdings Inc. 2,856,450 20,738
* Figs Inc. Class A 3,302,507 19,485
* Life Time Group Holdings Inc. 1,259,292 19,154
* Driven Brands Holdings Inc. 1,506,031 18,961
  Dine Brands Global Inc. 379,480 18,765
* Portillo's Inc. Class A 1,203,034 18,515
* Overstock.com Inc. 1,161,079 18,368
  Sonic Automotive Inc. Class A 360,860 17,235
1 Guess? Inc. 756,289 16,366
1 Designer Brands Inc. Class A 1,267,859 16,051
  Wolverine World Wide Inc. 1,940,338 15,639
* Corsair Gaming Inc. 1,056,021 15,344
* Liberty Media Corp.-Liberty Live Class A 471,521 15,051
* Sun Country Airlines Holdings Inc. 1,007,035 14,944
*,1 Revolve Group Inc. Class A 1,050,131 14,292
* Lions Gate Entertainment Corp. Class A 1,650,004 13,992
* Clear Channel Outdoor Holdings Inc. 8,682,951 13,719
* BJ's Restaurants Inc. 575,268 13,496
*,1 Cava Group Inc. 437,540 13,402
* Mister Car Wash Inc. 2,408,090 13,269
  Caleres Inc. 442,541 12,728
* Sciplay Corp. Class A 545,030 12,410
*,1 U-Haul Holding Co. 224,965 12,276
*,1 Dream Finders Homes Inc. Class A 548,988 12,204
*,1 Savers Value Village Inc. 645,047 12,043
*,1 Bowlero Corp. Class A 1,157,686 11,137

          Shares Market
Value
($000)
* Central Garden & Pet Co.    241,735      10,670
* EW Scripps Co. Class A  1,770,063       9,700
* GoPro Inc. Class A  3,086,021       9,690
* AMC Networks Inc. Class A    781,163       9,202
* Vizio Holding Corp. Class A  1,694,151       9,165
  Sinclair Inc.    814,595       9,140
* Petco Health & Wellness Co. Inc. Class A  2,065,847       8,449
  Smith & Wesson Brands Inc.    592,628       7,651
* Arhaus Inc. Class A    819,389       7,620
*,1 SES AI Corp.  3,158,673       7,170
1 Cricut Inc. Class A    751,776       6,984
* Rush Street Interactive Inc.  1,508,971       6,971
  Interface Inc. Class A    709,057       6,956
* Sleep Number Corp.    271,050       6,665
* Frontier Group Holdings Inc. 1,133,604 5,487
  Rush Enterprises Inc. Class B 109,762 4,971
* iHeartMedia Inc. Class A 1,330,072 4,203
* Angi Inc. Class A 1,839,517 3,642
* ContextLogic Inc. Class A 4,450 20
* Hawaiian Holdings Inc. 200 1
* Qurate Retail Inc. Class A 1,374 1
* 2U Inc. 304 1
* Brilliant Earth Group Inc. Class A 48
* Vacasa Inc. Class A 526
            18,592,246
Consumer Staples (3.5%)
  Bunge Ltd. 3,876,836 419,668
  Casey's General Stores Inc. 959,879 260,626
* Performance Food Group Co. 4,019,719 236,601
* US Foods Holding Corp. 5,718,475 227,023
* Celsius Holdings Inc. 1,286,214 220,714
* Darling Ingredients Inc. 4,104,989 214,280
  Lamb Weston Holdings Inc. 1,874,052 173,275
  Ingredion Inc. 1,616,944 159,107
  Molson Coors Beverage Co. Class B 2,326,695 147,955
* BellRing Brands Inc. 3,382,639 139,466
* Hostess Brands Inc. Class A 3,419,474 113,903
* Sprouts Farmers Market Inc. 2,625,307 112,363
* Post Holdings Inc. 1,260,527 108,078
  Flowers Foods Inc. 4,351,934 96,526
* Boston Beer Co. Inc. Class A 235,535 91,748
* Simply Good Foods Co. 2,434,895 84,053
  Lancaster Colony Corp. 496,006 81,856
* Freshpet Inc. 1,240,595 81,730
  Coca-Cola Consolidated Inc. 118,458 75,377
  WD-40 Co. 349,163 70,964
  Spectrum Brands Holdings Inc. 872,506 68,361
* Grocery Outlet Holding Corp. 2,288,813 66,032
  Energizer Holdings Inc. 1,840,870 58,982
* TreeHouse Foods Inc. 1,306,834 56,952
  Cal-Maine Foods Inc. 1,024,338 49,598
  J & J Snack Foods Corp. 298,231 48,806
  Edgewell Personal Care Co. 1,243,982 45,978
  Andersons Inc. 826,585 42,577
  Vector Group Ltd. 3,418,978 36,378
  Reynolds Consumer Products Inc. 1,348,642 34,566
* Herbalife Ltd. 2,415,719 33,796
  Universal Corp. 601,147 28,380

          Shares Market
Value
($000)
* National Beverage Corp.    599,503      28,189
  Nu Skin Enterprises Inc. Class A  1,283,210      27,217
* Sovos Brands Inc.  1,171,090      26,408
  Weis Markets Inc.    414,563      26,117
  Fresh Del Monte Produce Inc.    988,805      25,551
* Hain Celestial Group Inc.  2,298,263      23,833
  Utz Brands Inc.  1,667,345      22,392
  Seaboard Corp.      5,964      22,383
* United Natural Foods Inc.  1,505,147      21,283
  Medifast Inc.    279,733      20,938
* Pilgrim's Pride Corp.    912,306      20,828
1 B&G Foods Inc.  1,763,975      17,446
* USANA Health Sciences Inc.    297,527      17,438
*,1 Beyond Meat Inc.  1,571,143      15,114
* Beauty Health Co. 2,218,649 13,356
  ACCO Brands Corp. 2,316,012 13,294
* Duckhorn Portfolio Inc. 1,184,508 12,153
  Tootsie Roll Industries Inc. 363,976 10,868
* Olaplex Holdings Inc. 2,522,575 4,919
*,1 BRC Inc. Class A 1,180,557 4,238
* Vital Farms Inc. 98 1
            4,059,685
Energy (6.4%)
  Targa Resources Corp. 5,756,882 493,480
  Ovintiv Inc. 7,023,138 334,091
  APA Corp. 7,907,807 325,011
  Chesapeake Energy Corp. 3,235,259 278,976
  TechnipFMC plc 10,710,017 217,842
  HF Sinclair Corp. 3,790,576 215,798
  EQT Corp. 5,291,914 214,746
  NOV Inc. 10,135,647 211,835
  Civitas Resources Inc. 2,413,096 195,147
  Range Resources Corp. 5,900,953 191,250
* Southwestern Energy Co. 28,343,258 182,814
  ChampionX Corp. 5,059,393 180,216
* Antero Resources Corp. 6,958,325 176,602
  Murphy Oil Corp. 3,818,192 173,155
* Weatherford International plc 1,854,644 167,530
  Chord Energy Corp. 1,015,248 164,541
  Matador Resources Co. 2,760,110 164,171
  PBF Energy Inc. Class A 2,862,523 153,231
* Transocean Ltd. 17,758,476 145,797
  Texas Pacific Land Corp. 79,049 144,151
  Noble Corp. plc 2,822,593 142,964
  Patterson-UTI Energy Inc. 10,142,764 140,376
  DT Midstream Inc. 2,494,373 132,002
* Denbury Inc. 1,244,503 121,974
  SM Energy Co. 3,054,508 121,111
*,1 Plug Power Inc. 15,496,906 117,777
  Magnolia Oil & Gas Corp. Class A 4,595,364 105,280
  Antero Midstream Corp. 8,643,260 103,546
  California Resources Corp. 1,774,692 99,401
  Equitrans Midstream Corp. 10,594,245 99,268
  Permian Resources Corp. Class A 7,040,728 98,289
  Helmerich & Payne Inc. 2,303,676 97,123
  Arcosa Inc. 1,255,216 90,250
* CNX Resources Corp. 3,946,853 89,120
  Cactus Inc. Class A 1,663,517 83,525

          Shares Market
Value
($000)
* Array Technologies Inc.  3,693,784      81,965
* Shoals Technologies Group Inc. Class A  4,374,290      79,831
1 New Fortress Energy Inc.  2,375,276      77,862
  Alpha Metallurgical Resources Inc.    299,416      77,767
  Arch Resources Inc.    443,203      75,637
  Peabody Energy Corp.  2,905,854      75,523
  Liberty Energy Inc. Class A  3,947,685      73,111
  Warrior Met Coal Inc.  1,339,348      68,414
* Oceaneering International Inc.  2,594,479      66,730
* Callon Petroleum Co.  1,579,547      61,792
1 Sitio Royalties Corp. Class A  2,103,843      50,934
  Archrock Inc.  3,830,975      48,270
* NEXTracker Inc. Class A  1,197,858      48,106
  Delek US Holdings Inc.  1,586,866      45,083
* Tidewater Inc. 610,735 43,405
  Northern Oil & Gas Inc. 1,018,963 40,993
*,1 ChargePoint Holdings Inc. 8,198,233 40,745
  World Kinect Corp. 1,475,674 33,099
* NOW Inc. 2,754,096 32,691
* Ameresco Inc. Class A 834,504 32,178
  Core Laboratories Inc. 1,199,051 28,789
  Comstock Resources Inc. 2,503,535 27,614
  CVR Energy Inc. 774,726 26,364
* ProPetro Holding Corp. 2,462,235 26,174
1 Crescent Energy Co. Class A 2,010,372 25,411
* Dril-Quip Inc. 877,878 24,730
*,1 Fluence Energy Inc. Class A 1,065,434 24,494
  RPC Inc. 2,501,439 22,363
* MRC Global Inc. 2,050,038 21,013
* Helix Energy Solutions Group Inc. 1,840,169 20,555
*,1 Stem Inc. 3,801,786 16,120
1 Kinetik Holdings Inc. Class A 467,244 15,769
*,1 FuelCell Energy Inc. 11,561,997 14,799
*,1 SunPower Corp. 2,249,929 13,882
  Vitesse Energy Inc. 554,573 12,694
1 HighPeak Energy Inc. 658,513 11,116
1 Atlas Energy Solutions Inc. Class A 447,050 9,938
*,1 EVgo Inc. Class A 2,522,919 8,527
*,1 Tellurian Inc. 7,098,611 8,234
* ProFrac Holding Corp. Class A 614,086 6,681
1 Enviva Inc. 764,666 5,712
* OPAL Fuels Inc. Class A 457,430 3,751
            7,501,256
Financials (13.5%)
  First Citizens BancShares Inc. Class A 260,774 359,894
  RenaissanceRe Holdings Ltd. 1,317,234 260,707
  Reinsurance Group of America Inc. 1,704,017 247,406
  Kinsale Capital Group Inc. 566,315 234,528
  Unum Group 4,278,848 210,476
  American Financial Group Inc. 1,856,457 207,311
  Brown & Brown Inc. 2,919,101 203,870
  New York Community Bancorp Inc. 17,661,428 200,281
  Assurant Inc. 1,364,677 195,940
  Erie Indemnity Co. Class A 653,760 192,068
  East West Bancorp Inc. 3,641,293 191,933
  Ally Financial Inc. 6,985,791 186,381
  SEI Investments Co. 3,063,671 184,525
  Carlyle Group Inc. 6,021,065 181,595

          Shares Market
Value
($000)
  Voya Financial Inc.  2,722,183     180,889
  Webster Financial Corp.  4,459,044     179,744
  Primerica Inc.    920,444     178,575
  Old Republic International Corp.  6,591,164     177,566
* SoFi Technologies Inc. 20,784,935     166,072
  Invesco Ltd. 11,265,056     163,569
  Selective Insurance Group Inc.  1,558,946     160,836
  First Horizon Corp. 14,379,014     158,457
* Robinhood Markets Inc. Class A 16,146,954     158,402
  Stifel Financial Corp.  2,553,048     156,859
  Morningstar Inc.    658,588     154,268
1 Blue Owl Capital Inc. Class A 11,698,826     151,617
  RLI Corp.  1,109,557     150,778
1 Starwood Property Trust Inc.  7,647,340     147,976
1 AGNC Investment Corp. 15,594,292 147,210
  Jefferies Financial Group Inc. 3,978,846 145,745
  First American Financial Corp. 2,520,717 142,395
  Houlihan Lokey Inc. Class A 1,323,362 141,758
  Comerica Inc. 3,391,616 140,922
  Commerce Bancshares Inc. 2,888,555 138,593
  Cullen/Frost Bankers Inc. 1,485,308 135,475
  Zions Bancorp NA 3,813,075 133,038
  SouthState Corp. 1,956,443 131,786
  Equitable Holdings Inc. 4,469,041 126,876
  Globe Life Inc. 1,158,658 125,981
  Pinnacle Financial Partners Inc. 1,877,122 125,842
  Prosperity Bancshares Inc. 2,291,569 125,074
  Essent Group Ltd. 2,615,188 123,672
* Ryan Specialty Holdings Inc. Class A 2,547,643 123,306
  Western Alliance Bancorp 2,677,446 123,082
  MGIC Investment Corp. 7,263,599 121,229
  Evercore Inc. Class A 877,443 120,982
  OneMain Holdings Inc. 3,015,275 120,882
  Annaly Capital Management Inc. 6,356,705 119,570
  Wintrust Financial Corp. 1,575,390 118,942
  Affiliated Managers Group Inc. 901,603 117,515
  Popular Inc. 1,856,121 116,954
  Rithm Capital Corp. 12,432,926 115,502
  Axis Capital Holdings Ltd. 1,974,464 111,300
  Old National Bancorp 7,530,256 109,490
  Columbia Banking System Inc. 5,369,558 109,002
  Lincoln National Corp. 4,368,181 107,850
  Home BancShares Inc. 4,953,396 103,724
  MarketAxess Holdings Inc. 484,788 103,570
  American Equity Investment Life Holding Co. 1,914,246 102,680
  Bank OZK 2,766,523 102,555
  Radian Group Inc. 4,050,470 101,707
  Cadence Bank 4,701,369 99,763
  FNB Corp. 9,234,065 99,636
  Synovus Financial Corp. 3,574,464 99,370
  United Bankshares Inc. 3,473,825 95,843
  Valley National Bancorp 11,108,828 95,092
  White Mountains Insurance Group Ltd. 62,645 93,697
  FirstCash Holdings Inc. 928,563 93,209
  Hanover Insurance Group Inc. 828,799 91,980
1 Blackstone Mortgage Trust Inc. Class A 4,213,999 91,654
  Janus Henderson Group plc 3,410,312 88,054
  First Financial Bankshares Inc. 3,491,721 87,712

          Shares Market
Value
($000)
  Assured Guaranty Ltd.  1,433,583      86,760
  Lazard Ltd. Class A  2,757,504      85,510
* Mr Cooper Group Inc.  1,548,418      82,933
* Brighthouse Financial Inc.  1,686,894      82,557
  Glacier Bancorp Inc.  2,854,877      81,364
  Jackson Financial Inc. Class A  2,108,290      80,579
* Enstar Group Ltd.    330,126      79,890
  SLM Corp.  5,818,361      79,246
  Hancock Whitney Corp.  2,106,506      77,920
  Moelis & Co. Class A  1,713,535      77,332
  Hamilton Lane Inc. Class A    844,224      76,352
*,1 Credit Acceptance Corp.    165,002      75,921
  United Community Banks Inc.  2,907,948      73,891
  Federated Hermes Inc. Class B  2,158,723      73,116
* Texas Capital Bancshares Inc. 1,235,647 72,780
* Genworth Financial Inc. Class A 11,921,673 69,861
  Artisan Partners Asset Management Inc. Class A 1,762,768 65,963
  Kemper Corp. 1,566,800 65,853
  ServisFirst Bancshares Inc. 1,261,194 65,796
  CNO Financial Group Inc. 2,764,261 65,596
  Ameris Bancorp 1,691,841 64,950
  Associated Banc-Corp 3,691,694 63,165
  Piper Sandler Cos. 434,211 63,095
  International Bancshares Corp. 1,437,982 62,322
  UMB Financial Corp. 999,465 62,017
  First Bancorp 4,591,264 61,798
  Cathay General Bancorp 1,775,147 61,704
  Walker & Dunlop Inc. 815,875 60,571
  First Hawaiian Inc. 3,286,210 59,316
  Community Bank System Inc. 1,378,573 58,190
1 Arbor Realty Trust Inc. 3,821,671 58,013
  WSFS Financial Corp. 1,572,708 57,404
  CVB Financial Corp. 3,409,548 56,496
  Atlantic Union Bankshares Corp. 1,931,976 55,602
  First Interstate BancSystem Inc. Class A 2,164,121 53,973
  Pacific Premier Bancorp Inc. 2,471,814 53,787
  Independent Bank Corp. 1,080,130 53,024
*,1 Upstart Holdings Inc. 1,837,095 52,431
  Simmons First National Corp. Class A 3,090,009 52,406
* Axos Financial Inc. 1,366,867 51,750
  Eastern Bankshares Inc. 4,089,603 51,284
  Fulton Financial Corp. 4,225,719 51,173
  Bank of Hawaii Corp. 1,023,595 50,862
  BGC Group Inc. Class A 9,529,318 50,315
  BOK Financial Corp. 598,572 47,874
  TPG Inc. Class A 1,583,221 47,687
  First Financial Bancorp 2,329,065 45,650
  PJT Partners Inc. Class A 561,176 44,580
* Clearwater Analytics Holdings Inc. Class A 2,268,089 43,865
  BankUnited Inc. 1,917,964 43,538
  StepStone Group Inc. Class A 1,376,760 43,478
  First Merchants Corp. 1,539,590 42,831
  PennyMac Financial Services Inc. 642,823 42,812
  Washington Federal Inc. 1,668,671 42,751
*,1 Riot Platforms Inc. 4,538,229 42,342
  BancFirst Corp. 465,395 40,364
  Virtu Financial Inc. Class A 2,303,772 39,786
  Cohen & Steers Inc. 633,458 39,711

          Shares Market
Value
($000)
* Goosehead Insurance Inc. Class A    523,800      39,039
  Towne Bank  1,683,950      38,613
* BRP Group Inc. Class A  1,644,199      38,195
  Navient Corp.  2,195,170      37,801
  Banner Corp.    882,144      37,385
  Apollo Commercial Real Estate Finance Inc.  3,645,397      36,928
  NBT Bancorp Inc.  1,148,996      36,412
  OFG Bancorp  1,210,672      36,151
*,1 Marathon Digital Holdings Inc.  4,252,290      36,144
  Renasant Corp.  1,369,790      35,875
  Independent Bank Group Inc.    905,241      35,802
  Virtus Investment Partners Inc.    177,058      35,764
  WesBanco Inc.  1,448,385      35,370
  Park National Corp.    373,386      35,292
  Claros Mortgage Trust Inc. 3,035,297 33,631
  Northwest Bancshares Inc. 3,264,584 33,397
  Hilltop Holdings Inc. 1,170,441 33,194
  City Holding Co. 366,238 33,090
  Two Harbors Investment Corp. 2,481,690 32,858
  Chimera Investment Corp. 5,850,884 31,946
* Cannae Holdings Inc. 1,696,251 31,618
  Horace Mann Educators Corp. 1,049,070 30,822
  Trustmark Corp. 1,411,740 30,677
  First Commonwealth Financial Corp. 2,498,881 30,511
  Ladder Capital Corp. Class A 2,934,319 30,106
  Westamerica Bancorp 684,523 29,606
  Compass Diversified Holdings 1,569,844 29,466
  National Bank Holdings Corp. Class A 968,913 28,835
  Provident Financial Services Inc. 1,845,093 28,211
  Franklin BSP Realty Trust Inc. 2,111,723 27,959
  PennyMac Mortgage Investment Trust 2,228,511 27,633
  Nelnet Inc. Class A 308,028 27,513
* Encore Capital Group Inc. 573,074 27,370
  Argo Group International Holdings Ltd. 904,111 26,979
*,1 Trupanion Inc. 956,408 26,971
  Employers Holdings Inc. 669,439 26,744
  Hope Bancorp Inc. 2,928,502 25,917
  S&T Bancorp Inc. 933,186 25,271
  ProAssurance Corp. 1,337,362 25,263
  MFA Financial Inc. 2,617,851 25,157
1 ARMOUR Residential REIT Inc. 5,863,865 24,921
  Safety Insurance Group Inc. 360,948 24,613
  Safehold Inc. 1,369,021 24,369
  PacWest Bancorp 3,044,852 24,085
* SiriusPoint Ltd. 2,323,857 23,634
  WisdomTree Inc. 3,282,016 22,974
* Avantax Inc. 897,058 22,947
  Enact Holdings Inc. 821,939 22,381
  Berkshire Hills Bancorp Inc. 1,073,947 21,533
* Oscar Health Inc. Class A 3,838,174 21,379
  National Western Life Group Inc. Class A 48,494 21,216
  Redwood Trust Inc. 2,934,245 20,921
  BrightSpire Capital Inc. Class A 3,339,011 20,902
  Mercury General Corp. 711,124 19,933
  Brookline Bancorp Inc. 2,163,557 19,710
* Triumph Financial Inc. 284,046 18,403
* PRA Group Inc. 957,547 18,394
* Open Lending Corp. 2,480,272 18,156

          Shares Market
Value
($000)
  TFS Financial Corp.  1,440,354      17,025
* LendingClub Corp.  2,652,135      16,178
  Capitol Federal Financial Inc.  3,323,244      15,852
  Eagle Bancorp Inc.    729,751      15,653
  Victory Capital Holdings Inc. Class A    464,537      15,488
* Palomar Holdings Inc.    301,913      15,322
  KKR Real Estate Finance Trust Inc.  1,242,584      14,749
*,1 Lemonade Inc.  1,253,071      14,561
  Tompkins Financial Corp.    295,219      14,463
* AssetMark Financial Holdings Inc.    572,268      14,352
  Heartland Financial USA Inc.    465,559      13,701
* Ambac Financial Group Inc.  1,105,341      13,330
  P10 Inc. Class A  1,125,940      13,117
  Live Oak Bancshares Inc.    427,323      12,371
  United Fire Group Inc. 616,446 12,175
1 UWM Holdings Corp. Class A 2,272,219 11,020
  TPG RE Finance Trust Inc. 1,597,336 10,750
* Columbia Financial Inc. 676,732 10,631
  Kearny Financial Corp. 1,527,740 10,587
* World Acceptance Corp. 80,143 10,183
  GCM Grosvenor Inc. Class A 1,021,170 7,924
  F&G Annuities & Life Inc. 241,694 6,782
  Invesco Mortgage Capital Inc. 572,514 5,731
*,1 Net Power Inc. 345,954 5,224
  Northfield Bancorp Inc. 520,265 4,916
* Hagerty Inc. Class A 542,698 4,434
* loanDepot Inc. Class A 1,510,506 2,598
  Associated Capital Group Inc. Class A 35,033 1,279
  Central Pacific Financial Corp. 108 2
            15,881,264
Health Care (10.7%)
* Exact Sciences Corp. 4,649,776 317,208
* Neurocrine Biosciences Inc. 2,513,383 282,756
  Bio-Techne Corp. 4,070,888 277,105
* Sarepta Therapeutics Inc. 2,280,803 276,479
* United Therapeutics Corp. 1,207,924 272,834
* Penumbra Inc. 939,708 227,325
* Repligen Corp. 1,363,307 216,779
  Chemed Corp. 388,018 201,653
* Catalent Inc. 4,407,817 200,688
* Jazz Pharmaceuticals plc 1,543,748 199,823
  Universal Health Services Inc. Class B 1,519,264 191,017
* Shockwave Medical Inc. 945,874 188,324
  DENTSPLY SIRONA Inc. 5,448,974 186,137
* Exelixis Inc. 8,194,652 179,053
* Tenet Healthcare Corp. 2,613,085 172,176
  Encompass Health Corp. 2,450,370 164,567
* HealthEquity Inc. 2,199,882 160,701
* Ionis Pharmaceuticals Inc. 3,505,052 158,989
* Acadia Healthcare Co. Inc. 2,253,802 158,465
  Bruker Corp. 2,456,604 153,046
* Globus Medical Inc. Class A 3,020,213 149,954
* Inspire Medical Systems Inc. 755,076 149,837
* Option Care Health Inc. 4,629,645 149,769
* Medpace Holdings Inc. 589,899 142,832
* Elanco Animal Health Inc. 12,682,978 142,557
* Karuna Therapeutics Inc. 824,248 139,372
* agilon health Inc. 7,827,618 139,018

          Shares Market
Value
($000)
* Halozyme Therapeutics Inc.  3,395,741     129,717
* Charles River Laboratories International Inc.    659,788     129,305
  Ensign Group Inc.  1,374,131     127,698
* Natera Inc.  2,802,385     124,006
* Lantheus Holdings Inc.  1,761,299     122,375
* DaVita Inc.  1,292,327     122,164
* Alkermes plc  4,287,314     120,088
* Envista Holdings Corp.  4,216,550     117,557
* Haemonetics Corp.  1,305,144     116,915
* Intra-Cellular Therapies Inc.  2,226,124     115,959
  Organon & Co.  6,578,080     114,195
* Masimo Corp.  1,291,419     113,232
  Perrigo Co. plc  3,485,723     111,369
* Vaxcyte Inc.  2,174,049     110,833
* Merit Medical Systems Inc. 1,483,367 102,382
* ImmunoGen Inc. 6,407,257 101,683
* 10X Genomics Inc. Class A 2,394,323 98,766
* Apellis Pharmaceuticals Inc. 2,575,857 97,986
* Insmed Inc. 3,790,491 95,710
* QuidelOrtho Corp. 1,289,353 94,174
* Neogen Corp. 5,010,665 92,898
* Amicus Therapeutics Inc. 7,392,339 89,891
* Glaukos Corp. 1,189,575 89,516
* Guardant Health Inc. 2,878,285 85,312
  CONMED Corp. 791,168 79,789
* Amedisys Inc. 839,958 78,452
* Blueprint Medicines Corp. 1,561,913 78,439
* Azenta Inc. 1,548,390 77,714
* Inari Medical Inc. 1,181,004 77,238
* Bridgebio Pharma Inc. 2,927,190 77,190
* Evolent Health Inc. Class A 2,768,935 75,398
* Teladoc Health Inc. 4,034,486 75,001
* R1 RCM Inc. 4,853,094 73,136
* Prestige Consumer Healthcare Inc. 1,275,662 72,955
* Axonics Inc. 1,299,025 72,901
* Cytokinetics Inc. 2,472,175 72,830
* Krystal Biotech Inc. 612,529 71,053
* Progyny Inc. 2,087,652 71,022
* iRhythm Technologies Inc. 747,953 70,502
* Arrowhead Pharmaceuticals Inc. 2,621,715 70,445
* ICU Medical Inc. 590,321 70,254
* REVOLUTION Medicines Inc. 2,529,246 70,010
* Mirati Therapeutics Inc. 1,572,217 68,486
* Intellia Therapeutics Inc. 2,165,039 68,459
* Integra LifeSciences Holdings Corp. 1,781,340 68,029
*,1 Axsome Therapeutics Inc. 971,778 67,918
* Integer Holdings Corp. 857,401 67,246
*,1 Ginkgo Bioworks Holdings Inc. Class A 37,097,317 67,146
* Enovis Corp. 1,263,703 66,635
  Select Medical Holdings Corp. 2,618,665 66,174
  Premier Inc. Class A 3,068,041 65,963
* ACADIA Pharmaceuticals Inc. 3,161,150 65,878
  Patterson Cos. Inc. 2,207,996 65,445
* Fortrea Holdings Inc. 2,286,157 65,361
* Immunovant Inc. 1,650,131 63,349
* Ultragenyx Pharmaceutical Inc. 1,749,036 62,353
* Doximity Inc. Class A 2,909,077 61,731
* Madrigal Pharmaceuticals Inc. 406,010 59,294

          Shares Market
Value
($000)
* Privia Health Group Inc.  2,569,203      59,092
*,1 Corcept Therapeutics Inc.  2,111,963      57,540
* Denali Therapeutics Inc.  2,654,651      54,765
* Omnicell Inc.  1,164,595      52,453
* Surgery Partners Inc.  1,792,295      52,425
* AtriCure Inc.  1,158,949      50,762
* STAAR Surgical Co.  1,249,470      50,204
* Pacific Biosciences of California Inc.  5,810,528      48,518
* CorVel Corp.    242,586      47,705
* Certara Inc.  3,088,811      44,911
* Novocure Ltd.  2,738,541      44,227
* Beam Therapeutics Inc.  1,837,331      44,188
* PTC Therapeutics Inc.  1,941,858      43,517
* Veracyte Inc.  1,875,337      41,876
* NeoGenomics Inc. 3,288,476 40,448
* NextGen Healthcare Inc. 1,641,571 38,954
* Sotera Health Co. 2,550,605 38,208
* Supernus Pharmaceuticals Inc. 1,337,269 36,869
* PROCEPT BioRobotics Corp. 1,089,723 35,754
* Agios Pharmaceuticals Inc. 1,437,965 35,590
* Cerevel Therapeutics Holdings Inc. 1,617,997 35,321
* Pacira BioSciences Inc. 1,137,101 34,886
* Tandem Diabetes Care Inc. 1,671,530 34,718
* Apollo Medical Holdings Inc. 1,113,875 34,363
* Ironwood Pharmaceuticals Inc. Class A 3,422,624 32,960
*,1 Recursion Pharmaceuticals Inc. Class A 4,192,240 32,071
* Myriad Genetics Inc. 1,998,057 32,049
* Xencor Inc. 1,564,416 31,523
* Owens & Minor Inc. 1,867,445 30,178
* SpringWorks Therapeutics Inc. 1,285,710 29,726
* TG Therapeutics Inc. 3,490,149 29,178
* Twist Bioscience Corp. 1,400,547 28,375
* Warby Parker Inc. Class A 2,126,455 27,984
* Harmony Biosciences Holdings Inc. 847,634 27,777
* Pediatrix Medical Group Inc. 2,156,129 27,404
* Zentalis Pharmaceuticals Inc. 1,360,256 27,287
* Maravai LifeSciences Holdings Inc. Class A 2,710,903 27,109
* Sage Therapeutics Inc. 1,307,457 26,907
* Iovance Biotherapeutics Inc. 5,727,877 26,062
* Ligand Pharmaceuticals Inc. 423,523 25,378
* Amylyx Pharmaceuticals Inc. 1,384,506 25,350
* Relay Therapeutics Inc. 2,980,266 25,064
* Avanos Medical Inc. 1,203,914 24,343
* Vir Biotechnology Inc. 2,586,281 24,233
* Arvinas Inc. 1,167,731 22,934
* Hims & Hers Health Inc. 3,643,587 22,918
  Embecta Corp. 1,471,934 22,153
  National HealthCare Corp. 334,514 21,402
* EQRx Inc. 9,389,706 20,845
  Healthcare Services Group Inc. 1,905,783 19,877
* Innoviva Inc. 1,504,842 19,548
* Varex Imaging Corp. 1,037,726 19,499
* Brookdale Senior Living Inc. 4,592,984 19,015
* Adaptive Biotechnologies Corp. 3,343,928 18,224
* AdaptHealth Corp. Class A 1,922,695 17,497
*,1 BioCryst Pharmaceuticals Inc. 2,433,639 17,230
* Nevro Corp. 881,372 16,940
* Multiplan Corp. 10,009,492 16,816

          Shares Market
Value
($000)
* Alignment Healthcare Inc.  2,419,730      16,793
* Nuvalent Inc. Class A    364,374      16,750
* REGENXBIO Inc.  1,016,282      16,728
*,1 Novavax Inc.  2,303,596      16,678
* Editas Medicine Inc.  2,096,856      16,355
* Verve Therapeutics Inc.  1,227,539      16,277
* Rocket Pharmaceuticals Inc.    775,660      15,893
* OPKO Health Inc.  9,928,314      15,885
* Amneal Pharmaceuticals Inc.  3,564,608      15,043
* Kymera Therapeutics Inc.  1,067,492      14,838
* Treace Medical Concepts Inc.  1,106,598      14,508
* Cytek Biosciences Inc.  2,626,891      14,500
* Enhabit Inc.  1,286,911      14,478
* Silk Road Medical Inc.    947,547      14,204
* Health Catalyst Inc. 1,390,040 14,067
* Outset Medical Inc. 1,278,973 13,915
  HealthStream Inc. 630,578 13,608
* Kiniksa Pharmaceuticals Ltd. Class A 769,316 13,363
* LifeStance Health Group Inc. 1,941,862 13,341
* Phreesia Inc. 654,677 12,229
* Arcus Biosciences Inc. 623,105 11,185
* GoodRx Holdings Inc. Class A 1,944,443 10,947
*,1 Prime Medicine Inc. 1,124,615 10,729
*,1 Sana Biotechnology Inc. 2,529,314 9,788
*,1 Day One Biopharmaceuticals Inc. 781,108 9,584
*,1 Clover Health Investments Corp. Class A 8,667,842 9,361
* Accolade Inc. 876,574 9,274
* ACELYRIN Inc. 873,937 8,888
*,1 Theravance Biopharma Inc. 949,627 8,195
* Allogene Therapeutics Inc. 2,583,128 8,189
* AnaptysBio Inc. 443,207 7,960
* 23andMe Holding Co. Class A 7,440,908 7,275
  Phibro Animal Health Corp. Class A 522,478 6,672
*,1 Lyell Immunopharma Inc. 4,513,483 6,635
*,1 ImmunityBio Inc. 3,515,581 5,941
* Agiliti Inc. 867,264 5,629
* Alector Inc. 807,716 5,234
* CareDx Inc. 658,832 4,612
*,1 ProKidney Corp. Class A 870,082 3,985
* American Well Corp. Class A 2,910,672 3,405
* Innovage Holding Corp. 519,061 3,109
* Fate Therapeutics Inc. 1,076,291 2,282
*,1 Butterfly Network Inc. 1,736,482 2,049
* Erasca Inc. 970,416 1,912
* FibroGen Inc. 1,198,752 1,034
*,1 P3 Health Partners Inc. 663,275 975
* Cano Health Inc. 2,933,965 744
*,1 Neumora Therapeutics Inc. 14,030 198
* Emergent BioSolutions Inc. 180 1
* Cullinan Oncology Inc. 108 1
*,1,2 Synergy Pharmaceuticals LLC 2,001,166
*,2 OmniAb Inc. 12.5 Earnout 156,690
*,2 OmniAb Inc. 15 Earnout 156,690
            12,564,387
Industrials (21.6%)
  IDEX Corp. 1,945,509 404,705
* Builders FirstSource Inc. 3,217,668 400,568
  Booz Allen Hamilton Holding Corp. Class A 3,374,021 368,679

          Shares Market
Value
($000)
* Axon Enterprise Inc.  1,827,876     363,729
  Carlisle Cos. Inc.  1,284,717     333,076
  Watsco Inc.    863,032     325,984
  Graco Inc.  4,348,896     316,948
  Owens Corning  2,311,390     315,297
  RPM International Inc.  3,321,709     314,931
  Lennox International Inc.    822,499     307,977
  AECOM  3,570,174     296,467
  Nordson Corp.  1,320,490     294,694
  Pentair plc  4,248,821     275,111
* Saia Inc.    682,843     272,215
  Lincoln Electric Holdings Inc.  1,477,304     268,559
* Fair Isaac Corp.    303,746     263,813
  EMCOR Group Inc.  1,212,880     255,178
  Regal Rexnord Corp. 1,706,739 243,859
  Westrock Co. 6,596,781 236,165
  Allegion plc 2,259,022 235,390
  Howmet Aerospace Inc. 5,038,020 233,008
  nVent Electric plc 4,266,008 226,056
  Toro Co. 2,674,194 222,226
  Advanced Drainage Systems Inc. 1,924,057 219,015
  Hubbell Inc. Class B 690,009 216,256
  A O Smith Corp. 3,206,172 212,024
* XPO Inc. 2,835,158 211,673
  AptarGroup Inc. 1,689,026 211,196
  Huntington Ingalls Industries Inc. 1,026,070 209,913
  Tetra Tech Inc. 1,370,448 208,349
* WEX Inc. 1,105,411 207,917
  ITT Inc. 2,112,676 206,852
* TopBuild Corp. 817,265 205,624
  Fortune Brands Innovations Inc. 3,265,544 202,986
* WillScot Mobile Mini Holdings Corp. 4,824,275 200,642
  Knight-Swift Transportation Holdings Inc. Class A 3,943,603 197,772
* Paylocity Holding Corp. 1,079,476 196,141
  AGCO Corp. 1,637,994 193,742
  Curtiss-Wright Corp. 985,784 192,849
  Woodward Inc. 1,545,162 192,002
  Robert Half Inc. 2,618,060 191,851
  WESCO International Inc. 1,322,675 190,227
  Cognex Corp. 4,434,588 188,204
  Donaldson Co. Inc. 3,119,975 186,075
* Chart Industries Inc. 1,100,042 186,039
* GXO Logistics Inc. 3,060,518 179,499
  Berry Global Group Inc. 2,887,232 178,749
* Middleby Corp. 1,379,544 176,582
  BWX Technologies Inc. 2,353,945 176,499
  Graphic Packaging Holding Co. 7,905,852 176,142
* Generac Holdings Inc. 1,602,009 174,555
* Trex Co. Inc. 2,794,218 172,208
  Genpact Ltd. 4,666,527 168,928
  Simpson Manufacturing Co. Inc. 1,098,089 164,505
  Landstar System Inc. 925,019 163,673
  Oshkosh Corp. 1,680,538 160,374
  Littelfuse Inc. 640,656 158,447
  Comfort Systems USA Inc. 920,575 156,875
* FTI Consulting Inc. 875,717 156,237
  Applied Industrial Technologies Inc. 994,865 153,816
* Axalta Coating Systems Ltd. 5,704,982 153,464

          Shares Market
Value
($000)
  Eagle Materials Inc.    911,650     151,808
  MSA Safety Inc.    960,912     151,488
  MKS Instruments Inc.  1,718,315     148,703
  Sensata Technologies Holding plc  3,922,924     148,365
* Atkore Inc.    972,595     145,101
  Brunswick Corp.  1,797,310     141,988
  Jack Henry & Associates Inc.    938,598     141,860
  Sonoco Products Co.  2,521,216     137,028
  Acuity Brands Inc.    802,824     136,729
* ATI Inc.  3,309,293     136,177
  Allison Transmission Holdings Inc.  2,303,328     136,035
* Fluor Corp.  3,690,196     135,430
  Flowserve Corp.  3,376,697     134,291
  Western Union Co.  9,638,650     127,037
* Kirby Corp. 1,530,921 126,760
* API Group Corp. 4,854,565 125,879
  Valmont Industries Inc. 513,885 123,440
  Vontier Corp. 3,981,112 123,096
  Sealed Air Corp. 3,717,244 122,149
  Watts Water Technologies Inc. Class A 704,773 121,799
  MSC Industrial Direct Co. Inc. Class A 1,219,438 119,688
* Mohawk Industries Inc. 1,393,431 119,570
  Ryder System Inc. 1,113,074 119,043
* MasTec Inc. 1,623,729 116,860
  Maximus Inc. 1,564,226 116,816
* ExlService Holdings Inc. 4,052,276 113,626
  Exponent Inc. 1,308,802 112,033
*,1 Affirm Holdings Inc. Class A 5,190,422 110,400
  Crane Co. 1,241,913 110,332
* AZEK Co. Inc. Class A 3,651,985 108,610
  Badger Meter Inc. 754,532 108,555
  Air Lease Corp. Class A 2,714,704 106,986
* Beacon Roofing Supply Inc. 1,380,192 106,509
  Belden Inc. 1,088,438 105,089
  Esab Corp. 1,473,157 103,445
  MDU Resources Group Inc. 5,240,683 102,613
  AAON Inc. 1,785,378 101,534
  EnerSys 1,056,247 99,995
  Zurn Elkay Water Solutions Corp. 3,561,444 99,792
  GATX Corp. 911,065 99,151
* ASGN Inc. 1,183,662 96,682
* Euronet Worldwide Inc. 1,214,264 96,388
* Summit Materials Inc. Class A 3,060,390 95,301
  HB Fuller Co. 1,386,456 95,125
  Terex Corp. 1,647,832 94,948
  Federal Signal Corp. 1,569,819 93,765
  ManpowerGroup Inc. 1,276,116 93,565
  Louisiana-Pacific Corp. 1,670,323 92,319
* Flywire Corp. 2,883,481 91,954
  Silgan Holdings Inc. 2,122,687 91,509
  Insperity Inc. 932,707 91,032
* SPX Technologies Inc. 1,114,946 90,757
  Franklin Electric Co. Inc. 1,012,332 90,330
*,1 TriNet Group Inc. 760,066 88,532
  John Bean Technologies Corp. 819,629 86,176
  Moog Inc. Class A 739,355 83,518
* AMN Healthcare Services Inc. 977,801 83,289
  Armstrong World Industries Inc. 1,151,334 82,896

          Shares Market
Value
($000)
  Brink's Co.  1,135,421      82,477
  Herc Holdings Inc.    691,800      82,283
  Otter Tail Corp.  1,073,471      81,498
* Shift4 Payments Inc. Class A  1,453,519      80,481
  Installed Building Products Inc.    621,577      77,629
* Verra Mobility Corp. Class A  4,148,804      77,583
  FTAI Aviation Ltd.  2,180,305      77,510
* Core & Main Inc. Class A  2,670,649      77,048
  Matson Inc.    862,851      76,552
* Remitly Global Inc.  3,031,561      76,456
  Hillenbrand Inc.  1,800,220      76,167
* AeroVironment Inc.    676,816      75,485
  Encore Wire Corp.    411,024      74,995
* Marqeta Inc. Class A 12,252,958      73,273
* Itron Inc. 1,170,313 70,898
  ESCO Technologies Inc. 663,811 69,328
  Albany International Corp. Class A 803,391 69,317
  Crane NXT Co. 1,242,786 69,062
  ABM Industries Inc. 1,703,127 68,142
*,1 Bloom Energy Corp. Class A 5,122,748 67,928
* GMS Inc. 1,049,718 67,150
* O-I Glass Inc. 3,991,708 66,781
  Korn Ferry 1,379,753 65,455
  EnPro Industries Inc. 538,213 65,226
* Knife River Corp. 1,310,713 64,002
* Dycom Industries Inc. 717,452 63,853
* Alight Inc. Class A 8,976,053 63,640
  UniFirst Corp. 388,912 63,397
  McGrath RentCorp 630,460 63,197
* ACI Worldwide Inc. 2,796,139 63,081
  EVERTEC Inc. 1,664,384 61,882
  Brady Corp. Class A 1,123,097 61,680
* Hub Group Inc. Class A 768,499 60,358
  ArcBest Corp. 587,784 59,748
* RXO Inc. 3,012,616 59,439
*,1 Joby Aviation Inc. 8,934,106 57,625
  Werner Enterprises Inc. 1,469,298 57,229
* Resideo Technologies Inc. 3,612,747 57,081
  ADT Inc. 8,928,152 53,569
* Masonite International Corp. 566,837 52,841
* Mercury Systems Inc. 1,424,083 52,819
  Trinity Industries Inc. 2,108,645 51,346
  Mueller Water Products Inc. Class A 4,031,560 51,120
  Kennametal Inc. 2,053,637 51,095
* Huron Consulting Group Inc. 490,083 51,047
* AAR Corp. 856,366 50,979
* Kratos Defense & Security Solutions Inc. 3,299,592 49,560
  Griffon Corp. 1,195,965 47,444
  Helios Technologies Inc. 851,310 47,231
* Hayward Holdings Inc. 3,295,842 46,471
* OSI Systems Inc. 388,022 45,802
  Forward Air Corp. 662,314 45,527
  Standex International Corp. 305,466 44,503
  Bread Financial Holdings Inc. 1,294,382 44,268
* Spirit AeroSystems Holdings Inc. Class A 2,714,310 43,809
* Gates Industrial Corp. plc 3,743,668 43,464
1 Granite Construction Inc. 1,132,217 43,047
  Primoris Services Corp. 1,306,060 42,747

          Shares Market
Value
($000)
*,1 Aurora Innovation Inc. Class A 18,054,188      42,427
  Barnes Group Inc.  1,239,780      42,115
  Greif Inc. Class A    623,940      41,685
*,1 Enovix Corp.  3,303,094      41,454
* Hillman Solutions Corp.  5,021,720      41,429
* Payoneer Global Inc.  6,483,450      39,679
  Enerpac Tool Group Corp. Class A  1,446,869      38,241
* AvidXchange Holdings Inc.  3,910,996      37,076
* Air Transport Services Group Inc.  1,733,956      36,188
* Mirion Technologies Inc. Class A  4,778,326      35,694
  Tennant Co.    477,363      35,396
  H&E Equipment Services Inc.    797,887      34,461
* Vicor Corp.    584,579      34,426
* Legalzoom.com Inc.  3,123,321      34,169
  Lindsay Corp. 284,078 33,430
* CoreCivic Inc. 2,772,137 31,187
  Greenbrier Cos. Inc. 753,608 30,144
*,1 Rocket Lab USA Inc. 6,828,057 29,907
  Kforce Inc. 490,996 29,293
* Cimpress plc 406,309 28,446
  AZZ Inc. 610,400 27,822
* JELD-WEN Holding Inc. 2,078,717 27,772
  Astec Industries Inc. 584,002 27,512
  Schneider National Inc. Class B 964,845 26,717
  Apogee Enterprises Inc. 567,054 26,697
* Gibraltar Industries Inc. 390,760 26,380
  TriMas Corp. 1,064,045 26,346
  Wabash National Corp. 1,207,165 25,495
  International Seaways Inc. 565,105 25,430
* Janus International Group Inc. 2,262,735 24,211
  Quanex Building Products Corp. 846,439 23,844
* Thermon Group Holdings Inc. 865,349 23,771
* Leonardo DRS Inc. 1,346,595 22,488
  Deluxe Corp. 1,120,356 21,164
*,1 PureCycle Technologies Inc. 3,369,773 18,904
  Gorman-Rupp Co. 571,940 18,817
* ZipRecruiter Inc. Class A 1,509,907 18,104
  First Advantage Corp. 1,305,266 18,000
* Proto Labs Inc. 670,295 17,696
  Heartland Express Inc. 1,116,508 16,402
* Green Dot Corp. Class A 1,142,875 15,920
* American Woodmark Corp. 210,361 15,905
* Conduent Inc. 4,474,491 15,571
*,1 Nikola Corp. 9,897,092 15,538
*,1 Virgin Galactic Holdings Inc. 8,015,104 14,427
  Kaman Corp. 724,889 14,244
  Kelly Services Inc. Class A 782,345 14,231
  Pitney Bowes Inc. 4,295,567 12,973
  TTEC Holdings Inc. 487,186 12,774
  REV Group Inc. 764,148 12,226
* Sterling Check Corp. 865,960 10,928
  Hyster-Yale Materials Handling Inc. 240,878 10,738
*,1 Symbotic Inc. Class A 311,599 10,417
  National Presto Industries Inc. 136,358 9,881
*,1 Atmus Filtration Technologies Inc. 438,767 9,148
* Forrester Research Inc. 296,139 8,558
*,1 Desktop Metal Inc. Class A 5,809,327 8,482
* BrightView Holdings Inc. 1,079,517 8,366

          Shares Market
Value
($000)
* CryoPort Inc.    596,345       8,176
* Triumph Group Inc.    985,305       7,547
  Pactiv Evergreen Inc.    916,417       7,450
*,1 Paymentus Holdings Inc. Class A    412,512       6,848
* Advantage Solutions Inc.  2,073,449       5,889
* TaskUS Inc. Class A    560,098       5,814
* TrueBlue Inc.    378,351       5,550
  Kronos Worldwide Inc.    590,884       4,579
*,1 Microvast Holdings Inc.  2,185,500       4,131
  Greif Inc. Class B     52,587       3,500
*,1 MSP Recovery Inc.  1,646,290         354
* FARO Technologies Inc.         70           1
* Hyliion Holdings Corp.        506           1
* TuSimple Holdings Inc. Class A        566           1
* Global Business Travel Group I 200 1
*,2 GCI Liberty Inc. 12,511
            25,450,646
Real Estate (7.0%)
  Gaming & Leisure Properties Inc. 6,419,572 292,411
  Kimco Realty Corp. 15,952,229 280,600
  Equity LifeStyle Properties Inc. 4,313,964 274,843
  American Homes 4 Rent Class A 7,903,713 266,276
  Rexford Industrial Realty Inc. 4,883,170 240,984
  CubeSmart 5,785,307 220,594
  Americold Realty Trust Inc. 6,954,355 211,482
  Omega Healthcare Investors Inc. 6,301,566 208,960
  EastGroup Properties Inc. 1,168,284 194,554
  Federal Realty Investment Trust 2,097,744 190,118
  Lamar Advertising Co. Class A 2,252,949 188,054
* Jones Lang LaSalle Inc. 1,227,483 173,296
  NNN REIT Inc. 4,692,809 165,844
  First Industrial Realty Trust Inc. 3,402,960 161,947
  Brixmor Property Group Inc. 7,734,400 160,721
  STAG Industrial Inc. 4,623,098 159,543
  Healthcare Realty Trust Inc. Class A 9,803,262 149,696
  Host Hotels & Resorts Inc. 9,156,405 147,143
  Regency Centers Corp. 2,375,171 141,180
  Agree Realty Corp. 2,477,080 136,834
  Terreno Realty Corp. 2,159,625 122,667
  Spirit Realty Capital Inc. 3,637,179 121,955
  Ryman Hospitality Properties Inc. 1,459,402 121,539
  Kite Realty Group Trust 5,646,413 120,946
  Apartment Income REIT Corp. Class A 3,840,873 117,915
  Rayonier Inc. 3,816,740 108,624
  Boston Properties Inc. 1,816,867 108,067
  Phillips Edison & Co. Inc. 3,021,731 101,349
1 Vornado Realty Trust 4,414,691 100,125
  Kilroy Realty Corp. 3,016,812 95,361
  PotlatchDeltic Corp. 2,056,933 93,364
  Essential Properties Realty Trust Inc. 4,014,979 86,844
1 Medical Properties Trust Inc. 15,404,408 83,954
  Sabra Health Care REIT Inc. 5,952,242 82,974
  Independence Realty Trust Inc. 5,786,071 81,410
  Apple Hospitality REIT Inc. 5,300,195 81,305
  EPR Properties 1,938,580 80,529
  Cousins Properties Inc. 3,908,058 79,607
  Physicians Realty Trust 6,139,611 74,842
  DigitalBridge Group Inc. 4,183,423 73,545

          Shares Market
Value
($000)
  COPT Defense Properties  2,897,215      69,041
  Broadstone Net Lease Inc.  4,821,634      68,949
  LXP Industrial Trust  7,534,233      67,055
  National Storage Affiliates Trust  2,067,802      65,632
  Park Hotels & Resorts Inc.  5,277,162      65,015
* Howard Hughes Holdings Inc.    838,786      62,179
1 SL Green Realty Corp.  1,658,121      61,848
  Macerich Co.  5,543,161      60,476
1 Hannon Armstrong Sustainable Infrastructure Capital Inc.  2,761,989      58,554
  Tanger Factory Outlet Centers Inc.  2,573,339      58,157
  SITE Centers Corp.  4,581,537      56,490
  Highwoods Properties Inc.  2,721,928      56,099
  Innovative Industrial Properties Inc.    722,106      54,635
  National Health Investors Inc.  1,062,247      54,557
  St. Joe Co. 977,283 53,096
  CareTrust REIT Inc. 2,562,605 52,533
  Douglas Emmett Inc. 4,080,851 52,072
  Sunstone Hotel Investors Inc. 5,338,331 49,913
  Equity Commonwealth 2,685,680 49,336
  Global Net Lease Inc. 5,013,862 48,183
  Urban Edge Properties 2,880,323 43,954
  Pebblebrook Hotel Trust 3,106,527 42,218
  DiamondRock Hospitality Co. 5,134,681 41,231
  Kennedy-Wilson Holdings Inc. 2,695,580 39,733
  InvenTrust Properties Corp. 1,654,325 39,389
  Outfront Media Inc. 3,830,405 38,687
  JBG SMITH Properties 2,656,899 38,419
  Retail Opportunity Investments Corp. 3,086,805 38,215
  RLJ Lodging Trust 3,858,271 37,772
* Opendoor Technologies Inc. 13,545,512 35,760
  Acadia Realty Trust 2,448,033 35,129
  LTC Properties Inc. 1,063,597 34,173
* Cushman & Wakefield plc 4,395,745 33,496
  Veris Residential Inc. 2,010,092 33,166
  Service Properties Trust 4,270,232 32,838
  Xenia Hotels & Resorts Inc. 2,768,293 32,610
  Getty Realty Corp. 1,167,466 32,374
1 eXp World Holdings Inc. 1,972,513 32,034
  Alexander & Baldwin Inc. 1,865,497 31,210
  Elme Communities 2,255,909 30,771
  Uniti Group Inc. 6,131,055 28,939
  Empire State Realty Trust Inc. Class A 3,290,127 26,453
* GEO Group Inc. 3,077,037 25,170
* Compass Inc. Class A 8,380,133 24,302
  Hudson Pacific Properties Inc. 3,620,009 24,073
  RPT Realty 2,228,705 23,535
* Apartment Investment & Management Co. Class A 3,417,763 23,241
  Centerspace 383,971 23,138
  American Assets Trust Inc. 1,169,869 22,754
  Newmark Group Inc. Class A 3,522,882 22,652
  Paramount Group Inc. 4,744,274 21,919
  Brandywine Realty Trust 4,420,310 20,068
* Redfin Corp. 2,781,188 19,580
  Piedmont Office Realty Trust Inc. Class A 3,177,047 17,855
  Marcus & Millichap Inc. 592,729 17,391
* Anywhere Real Estate Inc. 2,692,676 17,314
  Universal Health Realty Income Trust 319,583 12,921
* Forestar Group Inc. 448,662 12,087

          Shares Market
Value
($000)
  Saul Centers Inc.    338,341      11,933
  Alexander's Inc.     59,033      10,758
  RMR Group Inc. Class A    380,971       9,341
  Summit Hotel Properties Inc.  1,312,582       7,613
  Bridge Investment Group Holdings Inc. Class A    771,685       7,099
  Office Properties Income Trust        196           1
*,2 Spirit MTA REIT    529,410          —
*,1 WeWork Inc. Class A         54          —
            8,219,138
Technology (12.9%)
* PTC Inc.  3,045,297     431,458
  Jabil Inc.  3,199,485     405,983
  Entegris Inc.  3,862,743     362,750
  Vertiv Holdings Co. Class A  8,813,700     327,870
* Super Micro Computer Inc. 1,148,187 314,856
* Manhattan Associates Inc. 1,586,783 313,644
* Lattice Semiconductor Corp. 3,546,877 304,783
* Dynatrace Inc. 6,037,986 282,155
* Pure Storage Inc. Class A 7,518,212 267,799
* Ceridian HCM Holding Inc. 3,804,826 258,157
* F5 Inc. 1,525,985 245,897
* Nutanix Inc. Class A 6,067,404 211,631
  KBR Inc. 3,471,681 204,621
  National Instruments Corp. 3,416,660 203,701
* AppLovin Corp. Class A 4,983,544 199,142
* Guidewire Software Inc. 2,095,961 188,637
* CACI International Inc. Class A 586,657 184,169
  Universal Display Corp. 1,157,309 181,686
* Arrow Electronics Inc. 1,432,083 179,354
* Dropbox Inc. Class A 6,522,907 177,619
* Elastic NV 2,005,277 162,909
  Leidos Holdings Inc. 1,766,969 162,844
* Onto Innovation Inc. 1,262,542 160,999
* SPS Commerce Inc. 943,210 160,921
* UiPath Inc. Class A 9,240,523 158,105
* Rambus Inc. 2,808,096 156,664
* Fabrinet 931,375 155,186
* Aspen Technology Inc. 745,610 152,298
  Science Applications International Corp. 1,381,224 145,774
* Procore Technologies Inc. 2,198,739 143,622
* Axcelis Technologies Inc. 844,173 137,642
* Confluent Inc. Class A 4,636,039 137,273
* Qualys Inc. 897,547 136,921
* Tenable Holdings Inc. 2,976,142 133,331
* Insight Enterprises Inc. 915,224 133,165
* Novanta Inc. 921,699 132,209
* Smartsheet Inc. Class A 3,266,850 132,177
* Coherent Corp. 3,871,096 126,353
* New Relic Inc. 1,445,736 123,784
* Workiva Inc. Class A 1,217,981 123,430
* Wolfspeed Inc. 3,223,624 122,820
  Dolby Laboratories Inc. Class A 1,532,252 121,446
  TD SYNNEX Corp. 1,206,239 120,455
* Five9 Inc. 1,858,573 119,506
* Teradata Corp. 2,570,498 115,724
  Avnet Inc. 2,354,169 113,447
  Power Integrations Inc. 1,476,684 112,686
* MACOM Technology Solutions Holdings Inc. 1,369,810 111,749

          Shares Market
Value
($000)
* DXC Technology Co.  5,278,598     109,953
* Cirrus Logic Inc.  1,407,521     104,100
  Advanced Energy Industries Inc.    969,137      99,937
* IAC Inc.  1,957,606      98,644
* SentinelOne Inc. Class A  5,831,937      98,326
* Blackbaud Inc.  1,385,788      97,449
* Gitlab Inc. Class A  2,109,063      95,372
* Toast Inc. Class A  5,023,105      94,083
* Freshworks Inc. Class A  4,685,438      93,334
* NCR Corp.  3,444,515      92,899
* Samsara Inc. Class A  3,680,242      92,779
  Concentrix Corp.  1,139,032      91,248
* Silicon Laboratories Inc.    778,900      90,267
* Kyndryl Holdings Inc.  5,890,398      88,945
* Synaptics Inc. 992,922 88,807
* Diodes Inc. 1,122,935 88,532
* Appfolio Inc. Class A 484,693 88,520
* Altair Engineering Inc. Class A 1,391,577 87,057
*,1 MicroStrategy Inc. Class A 265,133 87,038
* Box Inc. Class A 3,540,473 85,715
* DoubleVerify Holdings Inc. 3,015,958 84,296
* Varonis Systems Inc. Class B 2,681,180 81,883
  Vishay Intertechnology Inc. 3,267,055 80,762
* BlackLine Inc. 1,412,760 78,366
* CommVault Systems Inc. 1,129,116 76,340
* ZoomInfo Technologies Inc. Class A 4,650,611 76,270
* Sanmina Corp. 1,399,430 75,961
* Alarm.com Holdings Inc. 1,220,406 74,616
* IPG Photonics Corp. 731,614 74,288
  Dun & Bradstreet Holdings Inc. 7,350,559 73,432
* Ziff Davis Inc. 1,136,824 72,404
* Yelp Inc. Class A 1,680,302 69,884
* FormFactor Inc. 1,999,240 69,853
* Rapid7 Inc. 1,490,972 68,257
*,1 C3.ai Inc. Class A 2,652,252 67,685
* Plexus Corp. 707,573 65,790
* CCC Intelligent Solutions Holdings Inc. 4,883,701 65,197
  Amkor Technology Inc. 2,847,515 64,354
* Rogers Corp. 479,412 63,028
*,1 IonQ Inc. 4,174,523 62,117
* RingCentral Inc. Class A 2,073,462 61,437
* Sprout Social Inc. Class A 1,185,197 59,118
* Parsons Corp. 1,080,388 58,719
  Progress Software Corp. 1,116,523 58,707
* Alteryx Inc. Class A 1,545,409 58,246
* Braze Inc. Class A 1,233,189 57,627
* Fastly Inc. Class A 2,995,095 57,416
* Envestnet Inc. 1,263,918 55,650
* Allegro MicroSystems Inc. 1,734,313 55,394
* nCino Inc. 1,735,156 55,178
* HashiCorp Inc. Class A 2,328,129 53,151
* Perficient Inc. 896,792 51,888
* Ambarella Inc. 969,247 51,399
* JFrog Ltd. 2,005,289 50,854
* NetScout Systems Inc. 1,765,934 49,481
* SiTime Corp. 429,301 49,048
* Appian Corp. Class A 1,072,473 48,916
* PagerDuty Inc. 2,138,414 48,093

          Shares Market
Value
($000)
* LiveRamp Holdings Inc.  1,620,292      46,729
  Pegasystems Inc.  1,072,765      46,569
* Q2 Holdings Inc.  1,430,833      46,173
* Schrodinger Inc.  1,616,406      45,696
* Credo Technology Group Holding Ltd.  2,899,606      44,219
  Xerox Holdings Corp.  2,793,682      43,833
* Semtech Corp.  1,648,708      42,454
* Cargurus Inc. Class A  2,387,760      41,834
* MaxLinear Inc. Class A  1,879,770      41,825
  Clear Secure Inc. Class A  2,179,374      41,495
* Squarespace Inc. Class A  1,378,667      39,940
  CSG Systems International Inc.    777,677      39,755
* Veeco Instruments Inc.  1,380,531      38,807
* Asana Inc. Class A  2,024,306      37,065
* PROS Holdings Inc. 1,068,095 36,977
* Bumble Inc. Class A 2,464,532 36,771
* Paycor HCM Inc. 1,593,976 36,391
* Verint Systems Inc. 1,568,772 36,066
* DigitalOcean Holdings Inc. 1,483,382 35,646
* Upwork Inc. 3,118,102 35,422
* Veradigm Inc. 2,677,835 35,187
* Sprinklr Inc. Class A 2,400,424 33,222
* TTM Technologies Inc. 2,534,700 32,647
* Jamf Holding Corp. 1,771,668 31,288
* Impinj Inc. 551,938 30,373
* Zeta Global Holdings Corp. Class A 3,514,640 29,347
  Adeia Inc. 2,604,845 27,820
* Zuora Inc. Class A 3,316,837 27,331
* Vertex Inc. Class A 1,137,274 26,271
* Magnite Inc. 3,341,936 25,198
  Shutterstock Inc. 648,656 24,681
* AvePoint Inc. 3,571,531 24,001
* Everbridge Inc. 1,046,957 23,473
* E2open Parent Holdings Inc. 5,062,150 22,982
* N-able Inc. 1,640,774 21,166
  Benchmark Electronics Inc. 870,380 21,115
  Methode Electronics Inc. 911,125 20,819
* Intapp Inc. 604,322 20,257
* Cerence Inc. 984,198 20,048
* Eventbrite Inc. Class A 2,014,196 19,860
* Informatica Inc. Class A 939,824 19,802
* Amplitude Inc. Class A 1,693,330 19,592
* ScanSource Inc. 638,166 19,343
* EngageSmart Inc. 1,074,650 19,333
*,1 Xometry Inc. Class A 1,047,024 17,778
* Alkami Technology Inc. 968,166 17,640
*,1 Klaviyo Inc. Class A 493,132 17,013
*,1 Getty Images Holdings Inc. 2,549,184 16,544
* BigCommerce Holdings Inc. 1,638,825 16,175
* Yext Inc. 2,548,557 16,132
* Olo Inc. Class A 2,644,289 16,024
* 3D Systems Corp. 3,257,073 15,992
* Digital Turbine Inc. 2,452,756 14,839
* PubMatic Inc. Class A 1,095,554 13,256
* Vimeo Inc. 3,639,810 12,885
* Planet Labs PBC 4,910,068 12,766
* Couchbase Inc. 715,237 12,273
* SolarWinds Corp. 1,269,474 11,984

          Shares Market
Value
($000)
* nLight Inc.  1,133,088      11,784
* Consensus Cloud Solutions Inc.    454,241      11,438
* CEVA Inc.    576,768      11,184
*,1 SmartRent Inc. Class A  4,114,622      10,739
* Thoughtworks Holding Inc.  2,448,207       9,989
* Definitive Healthcare Corp. Class A  1,164,008       9,300
* NerdWallet Inc. Class A    945,333       8,404
*,1 Rumble Inc.  1,588,977       8,104
* SEMrush Holdings Inc. Class A    917,618       7,800
* Matterport Inc.  3,293,702       7,147
* MeridianLink Inc.    418,245       7,135
* Enfusion Inc. Class A    757,116       6,791
* Nextdoor Holdings Inc.  3,639,168       6,623
  Ebix Inc.    634,932       6,273
* EverCommerce Inc. 482,922 4,844
*,1 MediaAlpha Inc. Class A 479,912 3,964
* Rackspace Technology Inc. 705,759 1,659
* SecureWorks Corp. Class A 184,311 1,145
*,1 Maplebear Inc. 6,951 206
* LivePerson Inc. 304 1
* Expensify Inc. Class A 136
            15,112,116
Telecommunications (1.3%)
  Juniper Networks Inc. 8,268,589 229,784
* Ciena Corp. 3,847,200 181,819
  Iridium Communications Inc. 2,897,321 131,799
* Roku Inc. Class A 1,596,909 112,726
* Frontier Communications Parent Inc. 6,326,629 99,012
* Lumentum Holdings Inc. 1,631,052 73,691
  Cable One Inc. 115,787 71,283
  Cogent Communications Holdings Inc. 1,132,563 70,106
* Calix Inc. 1,451,393 66,532
1 InterDigital Inc. 680,187 54,578
* Viasat Inc. 2,875,782 53,087
* Viavi Solutions Inc. 5,706,377 52,156
  Telephone & Data Systems Inc. 2,442,148 44,716
* Extreme Networks Inc. 1,592,220 38,548
* DISH Network Corp. Class A 6,449,601 37,795
* Lumen Technologies Inc. 25,890,892 36,765
  Shenandoah Telecommunications Co. 1,226,517 25,278
*,1 Globalstar Inc. 18,493,874 24,227
*,1 Infinera Corp. 4,954,517 20,710
* Altice USA Inc. Class A 5,556,291 18,169
* CommScope Holding Co. Inc. 5,171,283 17,375
* EchoStar Corp. Class A 882,370 14,780
* United States Cellular Corp. 335,596 14,420
  ADTRAN Holdings Inc. 1,717,847 14,138
* Xperi Inc. 1,059,486 10,446
* WideOpenWest Inc. 1,289,771 9,867
* Gogo Inc. 826,387 9,859
*,1 fuboTV Inc. 3,569,600 9,531
  ATN International Inc. 280,569 8,855
* 8x8 Inc. 434 1
* NETGEAR Inc. 114 1
            1,552,054
Utilities (3.1%)
  Atmos Energy Corp. 3,819,783 404,630

          Shares Market
Value
($000)
  NRG Energy Inc.  5,897,017     227,153
  Pinnacle West Capital Corp.  2,915,158     214,789
  Essential Utilities Inc.  6,126,326     210,317
* Clean Harbors Inc.  1,254,242     209,910
  OGE Energy Corp.  5,153,489     171,766
  Vistra Corp.  4,729,097     156,911
  UGI Corp.  5,393,452     124,049
  National Fuel Gas Co.  2,363,158     122,672
  IDACORP Inc.  1,302,325     121,963
* Casella Waste Systems Inc. Class A  1,466,747     111,913
* Stericycle Inc.  2,382,041     106,501
  Southwest Gas Holdings Inc.  1,744,346     105,376
  Portland General Electric Co.  2,601,435     105,306
  New Jersey Resources Corp.  2,510,494     102,001
  PNM Resources Inc. 2,208,567 98,524
  ONE Gas Inc. 1,427,073 97,441
  Ormat Technologies Inc. 1,318,701 92,204
  Black Hills Corp. 1,727,267 87,382
  ALLETE Inc. 1,477,498 78,012
  American States Water Co. 952,094 74,911
  Northwestern Energy Group Inc. 1,545,365 74,270
  Spire Inc. 1,286,434 72,786
  California Water Service Group 1,486,261 70,315
* Sunrun Inc. 5,311,805 66,716
  MGE Energy Inc. 931,218 63,798
  Avista Corp. 1,970,230 63,776
  Clearway Energy Inc. Class C 2,113,550 44,723
1 Hawaiian Electric Industries Inc. 2,827,314 34,804
  Northwest Natural Holding Co. 901,603 34,405
*,1 Sunnova Energy International Inc. 2,669,226 27,947
  Clearway Energy Inc. Class A 901,343 17,955
* Enviri Corp. 2,048,621 14,791
  Excelerate Energy Inc. Class A 472,155 8,045
*,1 NuScale Power Corp. Class A 1,434,862 7,031
            3,625,093
Total Common Stocks (Cost $98,992,630) 116,931,320
      Coupon      
Temporary Cash Investments (1.8%)
Money Market Fund (1.8%)
3,4 Vanguard Market Liquidity Fund
(Cost $2,114,510)
5.391%   21,161,629 2,115,951
Total Investments (101.3%) (Cost $101,107,140)   119,047,271
Other Assets and Liabilities—Net (-1.3%)   (1,479,731)
Net Assets (100%)   117,567,540
Cost is in $000.
* Non-income-producing security.
1 Includes partial security positions on loan to broker-dealers. The total value of securities on loan is $1,459,204,000.
2 Security value determined using significant unobservable inputs.
3 Affiliated money market fund available only to Vanguard funds and certain trusts and accounts managed by Vanguard. Rate shown is the 7-day yield.
4 Collateral of $1,571,287,000 was received for securities on loan.
    
  REIT—Real Estate Investment Trust.


Derivative Financial Instruments Outstanding as of Period End

Futures Contracts
      ($000)
  Expiration Number of
Long (Short)
Contracts
Notional
Amount
Value and
Unrealized
Appreciation
(Depreciation)
Long Futures Contracts
E-mini Russell 2000 Index December 2023 2,616 235,257 (6,455)
E-mini S&P 500 Index December 2023 49 10,597 (455)
E-mini S&P Mid-Cap 400 Index December 2023 1,416 356,889 (8,888)
        (15,798)
    
Over-the-Counter Total Return Swaps
Reference Entity Termination
Date
Counterparty Notional
Amount
($000)
Floating
Interest
Rate
Received
(Paid)1
(%)
Value and
Unrealized
Appreciation
($000)
Value and
Unrealized
(Depreciation)
($000)
Arbor Realty Trust Inc. 1/31/24 GSI 8,015 (5.331) (438)
Invesco Ltd. 8/30/24 BANA 4,458 (5.881) (356)
Ollie's Bargain Outlet Holdings Inc. 1/31/24 GSI 23,391 (5.331) (275)
OneMain Holdings Inc. 1/31/24 GSI 2,175 (5.831) (54)
OneMain Holdings Inc. 1/31/24 GSI 1,436 (5.831) (36)
          (1,159)
1 Based on USD Overnight Bank Funding Rate as of the most recent reset date. Floating interest payment received/paid monthly.
  BANA—Bank of America, N.A.
  GSI—Goldman Sachs International.

A. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Equity securities are valued at the latest quoted sales prices or official closing prices taken from the primary market in which each security trades; such securities not traded on the valuation date are valued at the mean of the latest quoted bid and asked prices. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund's pricing time but after the close of the securities’ primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees.
Investments in Vanguard Market Liquidity Fund are valued at that fund's net asset value.
B. Futures Contracts: The fund uses index futures contracts to a limited extent, with the objectives of maintaining full exposure to the stock market, maintaining liquidity, and minimizing transaction costs. The fund may purchase futures contracts to immediately invest incoming cash in the market, or sell futures in response to cash outflows, thereby simulating a fully invested position in the underlying index while maintaining a cash balance for liquidity. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of stocks held by the fund and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the fund’s performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.
Futures contracts are valued at their quoted daily settlement prices. Fluctuations in the value of the contracts are recorded as an asset (liability).
C. Swap Contracts: The fund has entered into equity swap contracts to earn the total return on selected reference stocks or indexes in the fund’s target index. Under the terms of the swaps, the fund receives the total return on the referenced stock (i.e., receiving the increase or paying the decrease in value of the selected reference stock and receiving the equivalent of any dividends in respect of the selected referenced stock) over a specified period of time, applied to a notional amount that represents the value of a designated number of shares of the selected reference stock at the beginning of the equity swap contract. The fund also pays a floating rate that is based on short-term interest rates, applied to the notional amount. At the same time, the fund generally invests an amount approximating the notional amount of the swap in high-quality temporary cash investments.
A risk associated with all types of swaps is the possibility that a counterparty may default on its obligation to pay net amounts due to the fund. The fund’s maximum amount subject to counterparty risk is the unrealized appreciation on the swap contract. The fund mitigates its counterparty risk by entering into swaps only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting arrangements with its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the fund cannot be repledged, resold, or rehypothecated. In the event of a counterparty’s default (including bankruptcy), the fund may terminate any swap contracts with that counterparty, determine the net amount owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the fund under the master netting arrangements. The swap contracts contain provisions whereby a counterparty may terminate open contracts if the fund's net assets decline below a certain level, triggering a payment by the fund if the fund is in a net liability position at the time of the termination. The payment amount would be reduced by any collateral the fund has pledged. Any securities pledged as collateral for open contracts are noted in the Schedule of Investments. The value of collateral received or pledged is compared daily

to the value of the swap contracts exposure with each counterparty, and any difference, if in excess of a specified minimum transfer amount, is adjusted and settled within two business days.
Swaps are valued daily based on market quotations received from independent pricing services or recognized dealers and the change in value is recorded as an asset (liability) and as unrealized appreciation (depreciation) until periodic payments are made or the termination of the swap, at which time realized gain (loss) is recorded.
D.  Various inputs may be used to determine the value of the fund’s investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.
Level 1—Quoted prices in active markets for identical securities.
Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.
The following table summarizes the market value of the fund's investments and derivatives as of September 30, 2023, based on the inputs used to value them:
  Level 1
($000)
Level 2
($000)
Level 3
($000)
Total
($000)
Investments        
Assets        
Common Stocks 116,931,320 116,931,320
Temporary Cash Investments 2,115,951 2,115,951
Total 119,047,271 119,047,271
Derivative Financial Instruments        
Liabilities        
Futures Contracts1 15,798 15,798
Swap Contracts 1,159 1,159
Total 15,798 1,159 16,957
1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments.